Top 3 Mid-caps for Portfolio - Angel Broking

Mr. Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd

Endurance Technologies: CMP-Rs1,069 Target Price:-Rs1,230

Endurance Technologies is one of India's leading automotive component manufacturers with operations in India and Europe. It mainly caters to two and three-wheeler OEMs in India and supplies aluminum casting products to four-wheeler OEMs in Europe. Post Covid19, evolving consumer preference for lower ticket priced means of private transport amid pressurized incomes & awareness around social distancing are expected to act as tailwinds for domestic 2-Ws in India, 4-Ws across developed nations. Going ahead, given the company's ability to gain new businesses & market share across categories; we recommend a buy for Endurance.

Radico Khaitan: CMP-Rs402 Target Price:-Rs463

Radico Khaitan Ltd (RKL) is a leading manufacturer of Indian Made Foreign Liquor (IMFL). It has a strong pan-India presence with growing sales in the premium brands like Magic Moments Vodka, 8PM Premium Black Whisky, etc. Going forward, we expect RKL to report healthy profitability mainly due to strong sales growth in premium product segment (brand extension and launches in new states) and reduction in interest cost.

KEI Industries: - CMP-Rs397 Target Price:-Rs457

KEI Industries Ltd (KEI) is engaged in manufacturing and supply of power and other industrial cables. The company is also engaged in Engineering, Procurement and Construction (EPC) business. Going forward, we expect KEI Industries to report healthy top-line & bottom-line growth mainly due to (a) higher order book (Rs3,500cr) execution in the EPC segment; (b) growth in EHV business and (d) higher exports.

Source : Equity Bulls

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